Leading bank says Sainsbury has momentum, raises target price to 306p

  • UBS has kept its ‘buy' rating on J Sainsbury PLC (LSEBRY) and lifted its price target to 306p, citing strong grocery sales, improved performance at Argos, and sustained productivity gains. The bank expects Sainsbury's first-quarter update in early July to show 4% grocery growth, in line with recent industry data suggesting the supermarket is holding up well on both pricing and customer satisfaction.